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The Importance Of Balanced Scorecard As A Strategic Management Tool And Its Implementation In The Companies In R. Macedonia And Worldwide

Author

Listed:
  • Ljupco Eftimov;

    (Faculty of Economics-Skopje, University "Ss. Cyril and Methodius", R. Macedonia)

  • Lucija Eftimova
  • Marina Serafimoska

Abstract

Robert Kaplan and David Norton have been, and remained among the most influential authors in the field of Performance Management and their Balanced Scorecard still is the most successful concept in this field. This paper describes the evolution of Balanced Scorecard distinguishing three main evolution phases in its development, concerning the strategic and performance management literature. The paper examines the results of BSC implementation in the companies worldwide, and compares with the results of its employment in Republic of Macedonia. Also suggest potential improvements for ensuring higher implementation rate in Macedonia.

Suggested Citation

  • Ljupco Eftimov; & Lucija Eftimova & Marina Serafimoska, 2008. "The Importance Of Balanced Scorecard As A Strategic Management Tool And Its Implementation In The Companies In R. Macedonia And Worldwide," Journal Articles, Center For Economic Analyses, pages 21-32, December.
    • Handle: RePEc:cmk:journl:y:2008:p:21-31
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    File URL: http://journal.cea.org.mk/files/journals/1/articles/64/public/64-234-1-PB.pdf
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    References listed on IDEAS

    as
    1. Ittner, Christopher D. & Larcker, David F. & Randall, Taylor, 2003. "Performance implications of strategic performance measurement in financial services firms," Accounting, Organizations and Society, Elsevier, vol. 28(7-8), pages 715-741.
    2. Bontis, Nick & Dragonetti, Nicola C. & Jacobsen, Kristine & Roos, Göran, 1999. "The knowledge toolbox:: A review of the tools available to measure and manage intangible resources," European Management Journal, Elsevier, vol. 17(4), pages 391-402, August.
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